Thailand's economy returns to growth on annual basis in Q2 2021

Assisted by a low base due to the pandemic-induced downturn last year, Thailand's economy returned to growth in Q2 2021, with real GDP increasing by 7.5% y/y following five consecutive quarters of decline. On a seasonally-adjusted, q/q basis, GDP posted a real-terms increase of 0.4% following a rise of 0.2% in Q1.

Thailand's economy returned to growth in Q2 2021, with real GDP increasing by 7.5% y/y

In Q2 2021, private consumption increased by 4.6% y/y, gross fixed capital formation (investment) by 8.1% y/y and government consumption at a reduced pace of 1.1% y/y. Goods and services exports and imports volume increased by 27.5% y/y and 31.4% y/y respectively. The output breakdown of GDP shows increases of 2% y/y for agriculture, 16.8% y/y for manufacturing and 5% y/y for services with 5.1% y/y growth in construction and in increases in all other main service sector categories.

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